Finance Secretary Ralph G. Recto will remain at the helm of the Department of Finance after President Ferdinand R. Marcos Jr. rejected his courtesy resignation, signaling continued confidence in Recto’s leadership and commitment to fiscal stability and economic growth.
Also retained were the other members of the country’s economic managers that include Socioeconomic Planning and National Economic Development Authority chief Arsenio Balisacan, Budget Secretary Amena Pangandaman, Trade and Industry Secretary Maria Cristima Roque and Special Assistant to the President for Economic Affairs Frederick Go.
The announcement, made by Executive Secretary Lucas Bersamin, affirmed Recto’s role in helping steer the country’s economic recovery. “He’s an action man,” Bersamin said, emphasizing Recto’s immediate impact since his midterm appointment.
The retention comes after Marcos ordered all Cabinet members to submit courtesy resignations as part of a sweeping performance review. Recto was among the first to comply, underscoring his support for accountability in public service.
“I thank the President for his continued trust. This is a marching order to push harder and deliver results faster,” Recto said. He also announced internal recalibrations within the DOF to ensure that economic progress is felt across Filipino households.
The decision to keep Recto has drawn strong backing from the business sector and economic analysts. The Makati Business Club praised the economic team’s performance, with Executive Director Rafael Ongpin calling them “the best people for the job.”
Economists noted that Recto and his team were selected based on merit rather than political ties, a sentiment echoed by De La Salle University’s Prof. Maria Ella Oplas: “These are individuals who have proven that politics can be set aside for economic growth.”
With Recto’s reappointment, observers expect continued momentum on reforms aimed at improving tax administration, revenue mobilization, and investor confidence—crucial for sustaining the administration’s inclusive growth agenda.
